Eni SpA – Company Information

Eni SpA is a multinational oil and gas company based in Rome, Italy. As of 2014, Eni SpA is Italy’s largest industrial company with over 76,000 employees and operations in more than 70 countries.

The term “Eni” was originally an acronym for “Ente Nazionale Idrocarburi”, which translates into “national hydrocarbons authority”. The company is now active in nearly aspect of the oil and gas industry.

Eni became a joint stock company in 1992 and was listed on the Borsa Italiana and New York Stock Exchange three years later.

The company reported that in 2012 it produced 1,701 kilo barrel of oil equivalent (kboe) per day of liquids and gas.

Eni SpA – Business Focus

Eni SpA has operations that range from the hydrocarbon exploration phase to product marketing. The company claims that its strength is in the gas market and in the liquefaction of natural gas.

Business operations include:

Exploration and production: the exploration and production oil and natural gas.Gas and power: supplying and marketing natural gas, power generation and electricity.Refining and marketing: refining petroleum products and marketing these products.Eni trading: commodity trading, shipping and derivatives.Chemicals: the production of chemicals and polymers and marketing these products.Engineering and construction: developing new equipment and services for the oil/gas industry.

Company Developments

According to the Eni 2014 – 2017 Strategic Plan:

“Leveraging on the opportunities created by industry-leading exploration successes, Eni will grow production by an average of 3% a year between 2014 and 2017, and 4% a year from 2017 to 2023. Growth will be driven by 26 projects, which will contribute about 500,000 boed by 2017.

Eni assumes that production in Libya and Nigeria will remain depressed in the near-term, and will gradually improve from 2015 onwards. Operating cash flow growth will outstrip volume growth, with a CAGR of 9% at constant oil prices.

Over the next four years, Eni will continue to focus on exploration. Since 2008, it has discovered 9.5bn boe of resources, or 2.5 times cumulated production in the period. Key areas for Eni’s exploration are Mozambique and Kenya in East Africa, Congo, Angola and Gabon in West Africa, the Pacific basin, the Barents sea and Cyprus.”